Restart Energy completes EUR 0.2 mln PV project for Romanian company Biorom Ralex

Restart Energy completed the construction and installation of a photovoltaic (PV) project for Biorom Ralex, totaling more than EUR 200.000. The beneficiary’s investment will be amortized in about three years.

Established in 2013 in Dej, Cluj county, Biorom Ralex specializes in purchasing, processing, and marketing mushrooms, fruits, and medicinal plants from Romania’s wild flora. The company ended 2023 with a turnover of EUR 5.89 million.

The rooftop project has a capacity of 400 kWp and was installed on the roof of a Biorom Ralex building in Dej.

The photovoltaic plant consists of 800 panels covering a total area of 2,100 square meters. The panels will produce 404 MWh of energy per year, which is about 75% of the company’s energy needs.

“The project covers a large part of our energy consumption and gives us predictability of operational costs in an increasingly dynamic energy market. Implicitly, it reduces the company’s carbon footprint by avoiding CO2 emissions,” said Sighiartau Petru Rares, Administrator of Biorom Ralex.

Armand Domuța, CEO & Founder of Restart Energy, stated: “Romania has set itself a target of 34% renewable energy by 2030, compared to 45% in other EU countries. EPC projects make sustainability profitable for companies, a strong argument to be part of a global action for a better future.”

Romania was last year among the countries that added more than 1 GW of installed photovoltaic capacity, and at the rate projected for the next few years, it will be among the top 20 fastest-growing markets in the world, according to Solar Power Europe, the photovoltaic industry association in Europe, quoted in the Restart Energy press release.

The newly installed PV capacity between 2024-2028 in Romania could be 9,000 MW in a negative scenario, around 15,000 MW in a medium scenario, and around 19,000 MW in an optimistic scenario, a recent forecast by the same source shows.

In January 2021, Restart Energy signed a partnership with the American fund Interlink Capital Strategies of Washington DC to finance the development of 500 MW of renewable projects in Romania by 2025, with a view to supplying 100% locally produced green energy to all end customers.

In June 2024, the Restart Energy group signed a connection contract with Transelectrica worth RON 56 million for a 500 MW photovoltaic park that will supply green energy to more than 200,000 households.

Restart Energy Group’s portfolio of PV projects under development is over 1,000 MWp.

Also in June 2024, Restart Energy issued its second corporate bond issue, after the 2021 REO29E, to be listed on the Bucharest Stock Exchange.